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come off the dow very similar to what we saw after the election when we don't get a deal. this comes home. people don't realize what this is going to do. this is not healthy. this is not good. so what we're going to get is this wakeup call and i think people are getting a gift right now, opening the screens, take some off the table. at least place protective stops so you know where you will get out. >> rick santelli, is that how you read the message of the market right now? >> you know, i think the market's major movement with regard to the lack of a solution on the fiscal cliff has been more of what we've seen not more of what we think we're going to see. i'm referring specifically to some of the special dividends, some of the tax issues, some of the buy backs, some of the way, you know, states and trusts are being manipulated and moved to deal with the potential worst case scenarios. i think in terms of the market our guests just referred to some of the volatility. you know, as congress called it a day or as the boehner bill didn't pass the plan b. but i remember the t.a.r.p. vote.
election when that guy came in who did not take them out of euro to. meet biggest things that happened this year were things that didn't happen. no greece exit, no china hard landing and no u.s. slipping into a recession. therefore, the market has been able to lift. >> the last thing that may not happen is the fiscal cliff resolution, too. that could throw an iron in the fire. we've all got to be mindful of the possible debt downgrade. moody's and fitch are still at aaa and they have been rumbling they might take us down, and i think if s&p goes down a notch, mandy, that's not good for the market. >> the fact that these predictions did not come true i guess show that making predictions -- >> it shows the value of strategists. >> okay. >> it shows the value of vat jists. >> what are you predicting for 2013? >> i think you have to watch things in europe. the big day is the september 11th elections in germany and germany could be harder after the election. in the first half is the sent ceiling discussion and finally profits, personal income and production, if those can do better than the
it. we really need our elected officials to figure this out. come up with a reasonable compromise that keeps our economy growing and gives us some certain about the future so we can make our plans as business leaders. mine was earned off vietnam in 1968. over the south pacific in 1943. i got mine in iraq, 2003. usaa auto insurance is often handed down from generation to generation. because it offers a superior level of protection, and because usaa's commitment to serve the military, veterans and their families is without equal. begin your legacy, get an auto insurance quote. usaa. we know what it means to serve. >>> fiscal cliff fears pushing stocks lower but we're well off those lows right now and news that the house will reconvene on sunday evening at 6:30 p.m. eastern time. let's get to seemor, modi with more on this. >> hi, mandy, off of our lows, but today a risk-off approach to trading. that's a strategy being used as wall street is waiting by for the latest on the fiscal cliff negotiations. interestingly enough when you look at the year-to-date performance of the major indi
. and right after the election, i really was hopeful that members of congress would be able to come together and work out these hard issues. we're not there yet, but the fight's not over in that these debt problems are still there facing us. we'll have to go back to january and get into entitlement reform. the job is not close to finished. whatever debt deal they pass today, they agree they come back as quickly as possible and work out these challenges. because the economy will not grow in any meaningful way until we add the stability and certainty of tackling challenges. >> with all due respect, did upg the 112th congress was going to come together on a grand bargaining? >> i was hopeful. leadership starts at the top. i haven't seen much leadership in this town. one thing that happens at the end of the day is we go crashing through this debt ceiling which to me represents the real issue, the real fundamental challenge is we're running $1.3 trillion deficits, been doing that for two or three or four years. these taxes will not change the problem. the real issue we've got is a trillion dollar
Search Results 0 to 3 of about 4